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Cigna to reaffirm consolidated adjusted income from ops estimates for FY13Beginning on March 7 and through March 12, Cigna officials expect to participate in meetings and discussions with investors and analysts, including the Barclays Global Healthcare Conference. During these meetings, company officials expect to reaffirm consolidated adjusted income from operations estimates for FY13, which remain in the range of $1.70B-$1.83B. Because the company’s earnings outlook is based on consolidated adjusted income (loss) from operations, the company’s FY13 financial outlook does not include the after-tax charge of approximately $500M to be recorded in the 1Q13 related to the transaction to exit its run-off reinsurance operations, including the Guaranteed Minimum Death Benefits and Guaranteed Minimum Income Benefits businesses, effective as of February 4. Company officials also expect to reaffirm the outlook for medical membership for FY13, as discussed on the Company’s 4Q12 earnings conference call. Comments taken from an 8-K filing.

Cigna volatility elevated into Anthem acquiring for $54.2BCigna (CI) August call option implied volatility is at 28, September is at 23; compared to its 52-week range of 18 to 38, suggesting large price movement into Anthem (ANTM) acquiring Cigna for $103.40 in cash and 0.5152 Anthem common shares for each Cigna common share.

Anthem agrees to acquire Cigna for transaction valued at $54.2BAnthem (ANTM) and Cigna (CI) announced that they have entered into a definitive agreement whereby Anthem will acquire all outstanding shares of Cigna in a cash and stock transaction and Cigna shareholders will receive $103.40 in cash and 0.5152 Anthem common shares for each Cigna common share. The total per share consideration equates to approximately $188.00 for each Cigna share based on Anthem's closing share price on May 28, 2015, valuing the transaction at $54.2 billion on an enterprise basis. Following the transaction, Anthem will have more than $115B in pro forma annual revenues, based on the most recent 2015 outlooks publicly reported by both companies and will gain meaningful diversification covering approximately 53M medical members with well positioned commercial, government, consumer, specialty and international franchises. Upon the close of the transaction, Joseph Swedish will serve as Chairman and CEO of the combined company and David Cordani will be President and COO. In addition, effective upon closing, the Anthem board of Directors will be expanded to 14 members. David Cordani and four independent directors from Cigna’s current board will join the nine current members of the Anthem board. The transaction is expected to close in the second half of 2016, pending the receipt of customary approvals, including certain state regulatory approvals and expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. In addition, the transaction is subject to customary closing conditions, including the approval of Cigna’s shareholders of the merger agreement and Anthem’s shareholders of the issuance of shares in the transaction. Anthem is confident in its ability to obtain all necessary regulatory and other approvals. The combined company expects to achieve adjusted earnings per share accretion approaching 10% in year one, with the accretion more than doubling by year two following the closing of the transaction. We are confident in our ability to achieve synergy targets and are committed to retaining investment grade debt ratings. Anthem expects its debt-to-capital ratio to be approximately 49% at the time of close, with a plan to bring the ratio down to the low 40% range within 24 months. Anthem has received committed financing from Bank of America, Credit Suisse and UBS Investment Bank in connection with the transaction.

On The Fly: Top stock stories for ThursdayStocks began the session mixed on the heels of weak earnings reports from both Caterpillar (CAT) and 3M (MMM). The Nasdaq managed to spend most of the day in positive territory but joined the other averages in negative territory by mid-afternoon. Selling picked up momentum towards late afternoon, and by day’s end each of the averages were lower by more than 0.4%, with the Dow losing nearly 0.7%. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 255,000 in the week ended July 18, below the 278,000 first-time claims that were expected. The Leading Economic Indicators advanced 0.6% in June, exceeding expectations for a 0.3% increase. In Asia, the Shanghai Composite index advanced for a sixth straight session, adding another 2.4%. In Europe, the Greek Parliament voted to accept creditor terms for a new bailout, though a decision on when to reopen Greek financial markets was deferred to next week. COMPANY NEWS: Shares of General Motors (GM) finished the session up 3.96% to $31.50 after reporting earnings per share above analyst expectations. Other notable names rising following earnings reports include SanDisk (SNDK), Under Armour (UA), Southwest (LUV)... Caterpillar, meanwhile, dropped $2.86, or 3.59%, to $76.90 after cutting its yearly guidance during this morning's earnings report, with the company noting a "relatively stagnant" global economy. Also lower following earnings were Comcast (CMCSA, CMCSK), Bristol-Myers Squibb (BMY), Dunkin Brands (DNKN), and Boston Scientific (BSX). MAJOR MOVERS: Among the notable gainers was Cigna (CI), which rose $3.29, or 2.18%, to $154.36 after the Wall Street Journal reported last night that Anthem (ANTM) is nearing a deal to acquire the company for roughly $187, representing a total transaction value of over $48B. Adding to that report, CNBC's David Faber said on Thursday morning that Anthem will announce an agreement Friday to purchase Cigna for $188 per share, at a 45% equity, 55% cash split. Also higher were shares of numerous IT security companies, with FireEye (FEYE) advancing 4.53% and Palo Alto Networks (PANW) adding 2.33% after earnings reports from security firms Fortinet (FTNT) and F5 Networks (FFIV) beat on both top and bottom lines. Fortinet and F5, meanwhile, finished Thursday's session up 10.71% and 7.75% to $46.83 and $127.68, respectively. Among the noteworthy losers following earnings was McDonald's (MCD), which edged down 0.52% to $97.10 after noting that Q2 global comparable sales fell 0.7% for the quarter, including a 2% decline in U.S. same-store sales. Also lower was Hertz (HTZ), which declined 8.53% to $16.45 following a downgrade to Underweight at Morgan Stanley, with the research firm citing increased competition from Uber and similar mobility services. INDEXES: The Dow fell 119.12, or 0.67%, to 17,731.92, the Nasdaq lost 25.36, or 0.49%, to 5,146.41, and the S&P 500 declined 12.00, or 0.57%, to 2,102.15.

Anthem to pay $188 per share for Cigna, CNBC's Faber reportsAnthem (ANTM) is said to announce a deal tomorrow morning to acquire Cigna (CI) for $188 per share, with 55% in cash and 45% in stock, according to CNBC's David Faber, citing sources. Reference Link